The Internet of Things

The Internet of Things is a phrase used to describe the next step towards the digitisation of society and economy, where objects and people are interconnected through communication networks and report about their status and/or the surrounding environment. Devices and machines that haven’t typically used internet connections are increasingly being made with some internet functions, like cars that rely on traffic sensors.

According to a recent European Commission study, the market value of connecting devices in the EU is expected to exceed one trillion euros in 2020, compared to 307 billion in 2013. The number of connections within the EU28 will increase from approximately 1.8 billion in 2013 (the base year) to almost six billion in 2020.

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